Generic Sevco / Rangers meltdown thread

[Caversham Green]

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Could experienced administration watchers explain something to me.

If a group is given preferred bidder status does that mean in the eyes of the administrator the new owners have a deal that would be acceptable to creditors or is it just the best offer they have on the table? Can this deal fall through if the creditors turn round and say no this is not acceptable or would it seem it is a 'fait accompli'?

Having given an outline bid to the administrators the preferred bidders would now make a detailed formal bid having carried out due diligence - that's what the exclusive access stuff is all about. The administrators must then judge whether accepting that bid will produce a better outcome for the creditors than liquidation and then make their recommendations to the creditors in the form of a proposed CVA. The creditors can then decide for themselves whether they see the CVA or liquidation as the best option.

There's a fair way to go yet even if the bid is accepted.

[ancient hibee]

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Having given an outline bid to the administrators the preferred bidders would now make a detailed formal bid having carried out due diligence - that's what the exclusive access stuff is all about. The administrators must then judge whether accepting that bid will produce a better outcome for the creditors than liquidation and then make their recommendations to the creditors in the form of a proposed CVA. The creditors can then decide for themselves whether they see the CVA or liquidation as the best option.

There's a fair way to go yet even if the bid is accepted.

But surely the creditors (we know who you are)will have to accept because it's Rangers doncha know.

[Caversham Green]

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But surely the creditors (we know who you are)will have to accept because it's Rangers doncha know.

If they don't accept, Ally will want to know who they are - who are these people? What right do they have to demand a small percentage of the money they're owed? They're not football people so their opinion doesn't count.

[stokesmessiah]

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Having given an outline bid to the administrators the preferred bidders would now make a detailed formal bid having carried out due diligence - that's what the exclusive access stuff is all about. The administrators must then judge whether accepting that bid will produce a better outcome for the creditors than liquidation and then make their recommendations to the creditors in the form of a proposed CVA. The creditors can then decide for themselves whether they see the CVA or liquidation as the best option.

There's a fair way to go yet even if the bid is accepted.

Why is it then that the Rangers fans seem to think that when a preferred bidder is announced that there troubles are over?

[Spike Mandela]

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Why is it then that the Rangers fans seem to think that when a preferred bidder is announced that there troubles are over?

Because they are thick.

[green glory]

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Why is it then that the Rangers fans seem to think that when a preferred bidder is announced that there troubles are over?

Because they're f a n n i e s ?

[Green Man]

That computer game screenshot has to be made up, surely?

[PatHead]

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Why is it then that the Rangers fans seem to think that when a preferred bidder is announced that there troubles are over?

You have obviously forgotten their interview from about 200 pages ago! (Still superb)

http://www.youtube.com/watch?v=H8x_59EjZOs

[John_the_angus_hibby]

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They were, until McCoist decided it would be a good idea to behave like a mob boss. If the SFA reduce / overturn sanctions now it will look like they are giving in to intimidation. There's also the likelihood that if the SFA don't take action, UEFA will because of Rangers owing sums to Rapid Vienna (Jelavic) and St Etienne (Bocanegra).

FIFA and UEFA are watching developments here. The Scottish Football authorities are working through a process and until final punishments or lack are determined they will hold back. We (though I laugh at this) are respected as a football administration and I seriously think they are giving us the opportunity to put our own house in order. There is no love of Rangers at that level, they are seen as what they are without the blue tinted specs of our fair and unscrupulous media, bigoted violent cretins. If the SFA et al do not play straight here they will be down on them like a tonne of bricks. To be sure the SFA et al and Rangers are trying to negotiate a less damaging route (for them not Scottish football), but events are not being managed well and are spiralling out of control a bit. This penalty judgement has been so badly played by Rangers, it's media and 'fan base' it's almost (almost mind) sad.

FIFA threatened Switzerland with a total international and club ban, apartheid by any other name. Wait until Celtic find out they are banned from European competition until it's sorted. Image the blazers not getting their international away days.

Just sit back and enjoy...goodness this thread is like crack!


Sent from another universe!

[green glory]

http://t.co/OB7JISVw

Not an apology. 'Anything but' says Sally McMoist.

Kennedy/BK bid in 'disarray' according to Phil Mac's sources over the 500k exclusivity fee. Basically they both want the kudos of being the last man who tried to save THE Rangers. Don't want to put their hands in their pockets though.

[Just Alf]

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Just sit back and enjoy...goodness this thread is like crack!

At work just now and my work rate has dropped 20 odd % coz of this thread!

[johnbc70]

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Lennon with media training

Bill McFarlane ex BBC sports reporter has been giving him media training. Or he was last year in preparation for him taking over from Watty.

[JeMeSouviens]

News just in: reports are reaching us of a large lynch mob wandering the streets of Central Glasgow looking for the Embassy of Draconia.

[DarlingtonHibee]

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If they don't accept, Ally will want to know who they are - who are these people? What right do they have to demand a small percentage of the money they're owed? They're not football people so their opinion doesn't count.

Cav - total respect for your post's.

Again, I will ask - why cant Ibrox (car park etc), Murray park be seen as assets that they have to sell - they are on the balance sheet.

If we owned the tax man we would be asked to sell our house etc...

[BarneyK]

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News just in: reports are reaching us of a large lynch mob wandering the streets of Central Glasgow looking for the Embassy of Draconia.

[cam75]

http://boards.footymad.net/forum.php...mid=2115557143

Did Stuart milne have a master plan ? Lol

[PeeKay]

McCoist's interview on the BBC sport web site is unbelievable! Their attitude appears to be that rules, and of course taxes, are just for little people. Jeez-o!!

[Killiehibbie]

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At work just now and my work rate has dropped 20 odd % coz of this thread!

Does that mean rangers are to blame for the recession as well? Bury them and all will be well.

[jgl07]

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Cav - total respect for your post's.

Again, I will ask - why cant Ibrox (car park etc), Murray park be seen as assets that they have to sell - they are on the balance sheet.

The problem is that they have little real value. Ibrox only has value as a stadium unless permission is given for redevelopment whilst retaining the exterior of the main stand. Not much likelihood of a viable development in Govan in the current economic climate. There is a similar problem with Murray Park. As for the car park, I am not sure that Rangers even own it.

They are only assets in the context of a a football club as a going concern.

[Seveno]

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FIFA and UEFA are watching developments here. The Scottish Football authorities are working through a process and until final punishments or lack are determined they will hold back. We (though I laugh at this) are respected as a football administration and I seriously think they are giving us the opportunity to put our own house in order. There is no love of Rangers at that level, they are seen as what they are without the blue tinted specs of our fair and unscrupulous media, bigoted violent cretins. If the SFA et al do not play straight here they will be down on them like a tonne of bricks. To be sure the SFA et al and Rangers are trying to negotiate a less damaging route (for them not Scottish football), but events are not being managed well and are spiralling out of control a bit. This penalty judgement has been so badly played by Rangers, it's media and 'fan base' it's almost (almost mind) sad.

FIFA threatened Switzerland with a total international and club ban, apartheid by any other name. Wait until Celtic find out they are banned from European competition until it's sorted. Image the blazers not getting their international away days.

Just sit back and enjoy...goodness this thread is like crack!

As you say, no love for Rangers at UEFA level. They have been gunning for them for years over the sectarian chanting. Now they see a way to stop that once and for all.

Michel Platini, we love you.

[DarlingtonHibee]

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The problem is that they have little real value. Ibrox only has value as a stadium unless permission is given for redevelopment whilst retaining the exterior of the main stand. Not much likelihood of a viable development in Govan in the current economic climate. There is a similar problem with Murray Park. As for the car park, I am not sure that Rangers even own it.

They are only assets in the context of a a football club as a going concern.

Cheers jg

Would that be the same for us (or them!) if the worst was to happen ?

[JeMeSouviens]

From The Guardian's live blog:

It's the last-ever Old Firm derby on Sunday, with what's left of Rangers travelling in a rickety car - think the opening titles to the Beverly Hillbillies, only with bowler hats instead of stetsons, and a signal lack of petrodollars, obviously - across Glasgow to Parkhead. They could be "boosted", it says here, by the return of Kirk Broadfoot.

Boosted by the return of Kirk Broadfoot. These are tough times alright.

[jgl07]

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Cheers jg

Would that be the same for us (or them!) if the worst was to happen ?

Not really.

Rangers main stand is a listed building, Easter Road is not.

Also housing in Easter Road is a more viable proposition than around Ibrox.

[DarlingtonHibee]

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Not really.

Rangers main stand is a listed building, Easter Road is not.

Also housing in Easter Road is a more viable proposition than around Ibrox.

Cheers

[BarneyK]

As a reminder of what exactly Rangers FC brings to Scottish football. From the Raith Rovers website -

"As a result of the participation of one of our Directors on an SFA panel, this football club finds itself now having to contend with various threats in the form of emails and telephone calls, during the build-up to an important SFL league match.This club, along with every other club in the SPL and SFL, voted for change at last year's AGM. Part of that change involved the setting up of a panel of individuals who would give of their time to better facilitate and judge on football issues affecting the game in Scotland.

Individuals who agreed to an involvement in that process now find themselves chased by the media, vilified by sections of the press, subjected to abuse and hate. If this is the consequence of participation, it is more than likely that many will wish to consider whether or not such participation is worth such a price.

This football club remains supportive of our Director's involvement in what has turned out to be a fiasco. It is, however, incumbent on us as a football club to point out that we are NOT directly involved in the process per se. Threats to our staff, our infrastructure and our reputation is something we could well do without. So far this week significant additional costs have been incurred here at Kirkcaldy. Equally, tomorrow's important game against our friends from Dumfries, will be subject to greater security and police presence than would otherwise be the norm.

The Board at RRFC will have to consider why we should be subject to additional costs in support of a battle which has nothing to do with the football club. We may well be viewed as 'collateral damage' in the wider debate re the future of one of the country's larger footballing institutions, but we are nevertheless heartily sickened by what has happened this week.

This Board now looks to the footballing authorities to defuse the current mayhem and allow this football club – and no doubt others – to get back to business as usual.



Turnbull Hutton
Vice-Chairman
Raith Rovers Football Club "

[PatHead]

http://www.bbc.co.uk/sport/0/football/17867822


New BK bid in with Brian Kennedy. Wonder how long this will last?

Notice it is Murray and Kennedy bid. Thought Murray was declared not fit and proper by SFA?

[Springbank]

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If they don't accept, Ally will want to know who they are - who are these people? What right do they have to demand a small percentage of the money they're owed? They're not football people so their opinion doesn't count.

hee hee, you are forgetting though that it is not just Ally who needs to know who are these people. Rangers fans and - let's not forget - the people of Scotland have right to know!

The part in bold = not in my name

[John_the_angus_hibby]

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As a reminder of what exactly Rangers FC brings to Scottish football. From the Raith Rovers website -

"As a result of the participation of one of our Directors on an SFA panel, this football club finds itself now having to contend with various threats in the form of emails and telephone calls, during the build-up to an important SFL league match.This club, along with every other club in the SPL and SFL, voted for change at last year's AGM. Part of that change involved the setting up of a panel of individuals who would give of their time to better facilitate and judge on football issues affecting the game in Scotland.

Individuals who agreed to an involvement in that process now find themselves chased by the media, vilified by sections of the press, subjected to abuse and hate. If this is the consequence of participation, it is more than likely that many will wish to consider whether or not such participation is worth such a price.

This football club remains supportive of our Director's involvement in what has turned out to be a fiasco. It is, however, incumbent on us as a football club to point out that we are NOT directly involved in the process per se. Threats to our staff, our infrastructure and our reputation is something we could well do without. So far this week significant additional costs have been incurred here at Kirkcaldy. Equally, tomorrow's important game against our friends from Dumfries, will be subject to greater security and police presence than would otherwise be the norm.

The Board at RRFC will have to consider why we should be subject to additional costs in support of a battle which has nothing to do with the football club. We may well be viewed as 'collateral damage' in the wider debate re the future of one of the country's larger footballing institutions, but we are nevertheless heartily sickened by what has happened this week.

This Board now looks to the footballing authorities to defuse the current mayhem and allow this football club – and no doubt others – to get back to business as usual.



Turnbull Hutton
Vice-Chairman
Raith Rovers Football Club "

**** me. This is mad. Not being a bigoted violent cretin, sorry I mean a Bear/Hun/neo-nazi/**** bag, I just can't understand these folk.


Sent from another universe!

[BarneyK]

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http://www.bbc.co.uk/sport/0/football/17867822


New BK bid in with Brian Kennedy. Wonder how long this will last?

Notice it is Murray and Kennedy bid. Thought Murray was declared not fit and proper by SFA?

So... Murray earlier told BBC Scotland he and Kennedy were workgin on a bid "with very few conditions".

The only eensy-weensie conditions are that... "[The offer] is conditional on a CVA being approved by the creditors, and Mr [Craig] Whyte's shares being acquired."

That'll be them sorted then - panic over

[Seveno]

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As a reminder of what exactly Rangers FC brings to Scottish football. From the Raith Rovers website -

"As a result of the participation of one of our Directors on an SFA panel, this football club finds itself now having to contend with various threats in the form of emails and telephone calls, during the build-up to an important SFL league match.This club, along with every other club in the SPL and SFL, voted for change at last year's AGM. Part of that change involved the setting up of a panel of individuals who would give of their time to better facilitate and judge on football issues affecting the game in Scotland.

Individuals who agreed to an involvement in that process now find themselves chased by the media, vilified by sections of the press, subjected to abuse and hate. If this is the consequence of participation, it is more than likely that many will wish to consider whether or not such participation is worth such a price.

This football club remains supportive of our Director's involvement in what has turned out to be a fiasco. It is, however, incumbent on us as a football club to point out that we are NOT directly involved in the process per se. Threats to our staff, our infrastructure and our reputation is something we could well do without. So far this week significant additional costs have been incurred here at Kirkcaldy. Equally, tomorrow's important game against our friends from Dumfries, will be subject to greater security and police presence than would otherwise be the norm.

The Board at RRFC will have to consider why we should be subject to additional costs in support of a battle which has nothing to do with the football club. We may well be viewed as 'collateral damage' in the wider debate re the future of one of the country's larger footballing institutions, but we are nevertheless heartily sickened by what has happened this week.

This Board now looks to the footballing authorities to defuse the current mayhem and allow this football club – and no doubt others – to get back to business as usual.



Turnbull Hutton
Vice-Chairman
Raith Rovers Football Club "

Strong stuff but what do they expect the footballing authorities to do to 'defuse the current mayhem' ?